Customers Made Payments Totaling $8,000 on Their Accounts

question 122

Multiple Choice

Customers made payments totaling $8,000 on their accounts.Which accounts are affected by this transaction?

• A) Service Revenue and Retained Earnings increase by $8,000.
• B) Cash and Service Revenue increase by $8,000. Liabilities and Customer Expense increase by $8,000.
• C) Cash increases by $8,000 and Accounts Receivable decreases by $8,000. Revenue and Retained Earnings are unchanged.
• D) Cash and liabilities decrease by $8,000.

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Definitions:

HOMO

The Highest Occupied Molecular Orbital, referring to the molecular orbital that contains the highest energy electrons in a molecule.

LUMO

Lowest Unoccupied Molecular Orbital, the lowest energy orbital that can accept an electron.

Hybridization

A concept in chemistry that describes the mixing of atomic orbitals to form new hybrid orbitals that can accommodate the pairing of electrons to form bonds.

Central Carbon

The carbon atom in an organic molecule that is bonded to four different groups, making it a chiral or stereo center.